Top.Mail.Ru
empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
28.06.2023 02:09 PM
Miners move record amounts of BTC to exchanges: how will this affect the bullish trend outlook?
Open trading account Open demo account

Investor activity in the cryptocurrency market has significantly increased over the past week, and the main digital asset, Bitcoin, reached the $30k level. Currently, the coin is trading in the $30k–$31.5k range and has a good chance of continuing its upward movement to new levels. The positive fundamental and technical factors confirm bullish sentiment, which is necessary for an upward trend.

This image is no longer relevant

However, in the long-term perspective, the cryptocurrency market faces strong restraining factors that limit the possibilities of upward movement for the main asset. The Federal Reserve meeting, where an interest rate hike is expected, as well as the readiness of some investor categories to lock in profits at current levels, are among these factors.

Fed Effect

It is worth noting that, as with the bullish move in April, Bitcoin has lost correlation with all major competitors. SPX is recovering after a correction, and codependency with precious metals tends to -1. Bitcoin is seen as a hedge against current economic events, but even BTC is affected by the Fed.

This image is no longer relevant

The positive statements from Fed Chairman Jerome Powell regarding cryptocurrencies were neutralized by his commitment to the current monetary policy. As we have already noted, investors are confident in a rate hike at the July meeting. These expectations give rise to a new wave of negative analysis: HSBC reports that a recession will hit the U.S. this year, and Morgan Stanley notes the overheating of the SPX index.

This image is no longer relevant

At this stage, the overall economic context does not significantly affect the cryptocurrency market, but as the Fed meeting approaches, the influence will grow. For Bitcoin and other assets, this will mean a gradual decrease in trading activity and the beginning of another period of accumulation/redistribution with a parallel decline in price.

Are crypto investors willing to settle for less?

From a fundamental point of view, Bitcoin remains a sought-after and valuable asset for long-term investors. However, increased activity is observed among certain investor categories who are likely preparing for a price decline in the medium term and are ready to lock in profits.

This image is no longer relevant

First and foremost, this refers to short-term investors depositing BTC on exchanges in large numbers. However, their influence on the cryptocurrency price will not be as significant as that of miners. Over the past seven days, Bitcoin miners have sent a record $127 million worth of BTC to exchanges. Taking these facts into account, a local correction in Bitcoin can be expected in the medium term.

BTC/USD Analysis

As of June 28, Bitcoin made another attempt to break through the $31k level with daily trading volumes of $16 billion. At one point, the price reached $31k, but subsequently, sellers managed to push bulls back to the $30.5k level. As of 11:00 UTC, bears are increasing the pressure, causing BTC to decline to $30.2k.

This image is no longer relevant

Technical metrics on the daily chart indicate the formation of a downward trend for BTC. The stochastic indicator is experiencing a bearish crossover, while the RSI has already exited the overbought zone and continues to decline. At the same time, the MACD is showing a flat dynamic. In the near future, Bitcoin may undergo a retest of the important support level at $29.8k–$30k.

This image is no longer relevant

For Bitcoin, the current decline is a typical scenario, as bears prevail in the Asian markets. In the second half of the day, a change in intraday dynamics and a recovery in BTC/USD quotes can be expected.

This image is no longer relevant

Overall, Bitcoin is actively testing the $31k level, and there are all reasons to believe that the current week will end with at least a bullish break of this level and local trading above it.

Conclusion

Bitcoin maintains its bullish potential and has every chance of completing the assault on the $31k level this week. Bearish pressure does not pose a real threat to the current range of fluctuations between $29.8k and $31.5k. However, as BTC approaches the Federal Reserve meeting and the pace of price growth slows down, the situation will change in favor of the bears.

Artem Petrenko,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Fundamental analysis
XAU/USD. Analysis and Forecast Gold maintains a bearish tone today, though it has slightly recovered from the daily low, climbing back above the $3300 level. Investors continue to hope for a potential de-escalation
Irina Yanina
12:23 2025-04-25 +02:00
1195
Fundamental analysis
The Market Has Nowhere Left to Run While Donald Trump and Beijing are still trying to figure out whether trade negotiations between the U.S. and China are happening at all, the S&P 500 continues to climb
Marek Petkovich
11:57 2025-04-25 +02:00
1165
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Recommendations for the Cryptocurrency Market on April 25

Yesterday's unsuccessful attempt to stay above $94,000 demonstrates that there is still significant buying interest. Ethereum is also holding up quite well, although yesterday's correction during the European session likely
Miroslaw Bawulski 08:56 2025-04-25 UTC+2

Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 25, 2025.

With the condition of the Stochastic Oscillator indicator which is already above the Overbought level (80) even though it is currently still moving above the WMA (30 Shift 2) which
Arief Makmur 07:02 2025-04-25 UTC+2

Technical Analysis of Intraday Price Movement of Solana Cryptocurrency, Friday April 25, 2025.

Although currently the Solana cryptocurrency is moving in a strengthening condition which is indicated by its price movement moving above the WMA (30 Shift 2) but with the appearance
Arief Makmur 07:02 2025-04-25 UTC+2

BTC/USD Analysis – April 24th: Bitcoin Shows Signs of Revival

The wave pattern on the 4-hour chart for BTC/USD has become somewhat more complex. We observed a corrective downward structure that completed its formation around the $75,000 mark. Following this
Chin Zhao 10:15 2025-04-24 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 24

Bitcoin failed to hold above the $94,000 level and corrected to the $92,500 area, where it appears more comfortable. Ethereum also pulled back to around $1,769 after briefly climbing above
Miroslaw Bawulski 08:58 2025-04-24 UTC+2

Bitcoin may resume its uptrend

Bitcoin posted a strong rally yesterday. After breaking through the $90,000 level, the leading cryptocurrency surged toward $94,000, where the advance temporarily stalled. Ether also saw impressive gains. After trading
Jakub Novak 12:59 2025-04-23 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 23

Bitcoin has successfully pushed above $90,000, while Ethereum added more than 10% in just one day, rebounding to $1800. The main catalyst was Donald Trump's statement yesterday, clarifying that firing
Miroslaw Bawulski 09:03 2025-04-23 UTC+2

BTC/USD Analysis – April 22nd: The Moment of Truth

The wave structure on the 4-hour chart for BTC/USD is quite clear. After completing an upward trend consisting of five full waves, a downward segment began forming, which currently appears
Chin Zhao 11:49 2025-04-22 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 22

Bitcoin Returns to the $88,000 Zone, but Ethereum Is Facing Challenges Yesterday's sell-off during the U.S. session, once again triggered by a decline in American stock indices, was offset
Miroslaw Bawulski 08:18 2025-04-22 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 21

Bitcoin and Ethereum, having spent the entire weekend moving sideways within a range, surged sharply during today's Asian session. The rally was triggered by rumors that U.S. Federal Reserve Chair
Miroslaw Bawulski 09:03 2025-04-21 UTC+2

Top analytics

Relevance up to 02:00 2025-04-26 UTC--4
Intraday Strategies for Beginner Traders on April 25
08:07 2025-04-25
Forecast
Relevance up to 20:00 2025-04-25 UTC--4
Trading Recommendations and Analysis for EUR/USD April 25: The Market Awaits New Announcements from Trump
03:48 2025-04-25
Trading plan
Relevance up to 02:00 2025-04-26 UTC--4
GBP/USD: Simple Trading Tips for Beginner Traders on April 25. Review of Yesterday's Forex Trades
08:31 2025-04-25
Forecast
Relevance up to 02:00 2025-04-26 UTC--4
EUR/USD: Simple Trading Tips for Beginner Traders on April 25. Review of Yesterday's Forex Trades
08:31 2025-04-25
Forecast
Relevance up to 02:00 2025-04-26 UTC--4
The U.S. Dollar Rises — Here's Why
11:31 2025-04-25
Fundamental analysis
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.